The Russian Supreme Court has taken an important step towards defining the legal status of cryptocurrencies, and is working to classify digital assets as assets in criminal cases.
The development reported by Russian news agency TASS is part of the country’s latest initiative for legal clarity in the handling of crypto-related crimes.
At a recent meeting attended by the judge and Russian President Vladimir Putin, Supreme Court Chief Justice Irina Podnosova said there was a need for a legal framework to address cryptocurrency for criminal conduct. She notes that the increase in the prevalence of digital currency in the economy has led to an increase in crimes that use codes as tools to commit crimes, acting as illegal income or acting as subjects of criminal activity. did.
Podnosova confirmed that the Supreme Court is involved in preparing a legislative initiative aimed at recognizing cryptocurrencies as property in criminal cases. The move is expected to boost law enforcement capabilities to track, freeze and seize illegal digital assets, and to strengthen Russia’s legal infrastructure to combat crypto-related crime.
This is not the first time the Russian Supreme Court has intervened in cryptocurrency regulations. In 2019, the court ruled that BTC constituted money laundering by converting Bitcoin into rubles when it was acquired through illegal activities, particularly drug-related transactions. The ruling strengthens that cryptocurrencies could be subject to existing money laundering laws.
*This is not investment advice.
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